Example heads of terms
The information on this page of the website briefly outlines the terms and conditions of a lease agreement based on a non-exhaustive list of terms from a sample contract.
1. RL (Registrations Ltd) trading as Domains.co.uk act as a domain-leasing broker on behalf of the domain registrant. Any lease agreements are bound directly between the licensor (domain registrant) and the you ‘the licensee’.
2. All communication, DNS settings, negotiations and payments regarding the lease will be managed and authorised through RL.
3. During the lease period the licensors obligations include; editing the name servers associated with the Domain Name in accordance with the written instructions of the Licensee; ensuring the owner contact details and billing contact details associated with the Domain Name are kept updated; renewing the Domain Name in good time before the expiry of any period of the Domain Name registration (and pay any applicable fees) and immediately notify the Licensee of any disputes relating to the Domain Name.
4. During the term the licensor will not sell, rent, assign, license or transfer the Domain Name to any third party, or advertise the Domain Name for sale, rental, assignment, licensing or transfer unless all the terms and liabilities of this agreement pass to the new entity; or suspend or cancel the Domain Name, or allow the registration of the Domain Name to lapse.
5. The Licensee undertakes that its use of the Domain Name under the agreement will comply in all material respects with the applicable registry’s terms and conditions; will not breach any applicable law, statute, regulation or legally binding code; will not infringe the legal rights of any third party in any jurisdiction; and will immediately notify the Licensor of any disputes relating to the Domain Name.
6. The licensee will maintain a graphical link to http://www.Domains.co.uk from the footer of the website using the 15 pixels x 90 pixels graphic supplied by the Licensor.
7. All payments in relation to the lease agreement will be paid to RL on a monthly basis. All invoices will be sent by RL to the licensee one month prior to the due payment date. Charges must be paid by debit or credit card or standing order.
8. All Charges stated in or in relation to this Agreement are stated exclusive of VAT, unless the context requires otherwise.
9. Charges can vary for each individual lease agreement depending on the Domain Name, any premium charges; and or any annual or monthly increases; and or any specific agreed terms.
10. If the Licensee does not pay any amount properly due to RL on behalf of the Licensor under or in connection with the lease Agreement, the Licensor may charge the Licensee interest on the overdue amount at the rate of 5% per year above the base rate of National Westminster Bank Plc (which interest will accrue daily until the date of actual payment, be compounded quarterly, and be payable on demand); or claim interest and statutory compensation from the Licensee pursuant to the Late Payment of Commercial Debts (Interest) Act 1998; or in the event the payment has not been received within 7 (seven) working days of the date due cancel the Agreement and restore the registrar DNS to the Licensor.
11. The Licensee may terminate the agreement at any time by giving at least 30 days’ written notice to RL expiring at any time.